Board resolution for issue of bonus shares under Section 63 and Rule 14 with reserve capitalisation, allotment and ROC compliance provisions.
“RESOLVED THAT pursuant to the provisions of Section 63 of the Companies Act, 2013 read with Rule 14 of the Companies (Share Capital and Debentures) Rules, 2014 and other applicable provisions, if any, of the Companies Act, 2013, the Articles of Association of the Company and subject to approval of the members of the Company and such other statutory and regulatory approvals as may be required, consent of the Board be and is hereby accorded to recommend the issue of [●] fully paid-up Bonus Equity Shares of face value ₹**[●]** each for every [●] existing fully paid-up Equity Share(s) held by the members of the Company as on the Record Date to be determined by the Board.
RESOLVED FURTHER THAT the Bonus Shares shall rank pari passu in all respects with the existing Equity Shares of the Company, save and except as regards entitlement to dividend or other corporate benefits declared prior to their allotment.
RESOLVED FURTHER THAT any Director and/or Company Secretary and/or Chief Financial Officer of the Company be and are hereby severally authorised to take all necessary actions, obtain approvals, complete statutory filings and do all such acts, deeds and things as may be necessary for giving effect to this resolution.”